75,000-SF Office Building Sells for $9M

MIAMI-MM Real Estate LLC paid about $117.92 per net rentable sf to 5959 Blue Lagoon Partners Ltd. for the class A building here. The buyer, a Spain-based insurance company, plans to consolidate local offices in the building.

By Melissa Bogdany | October 21, 2003 at 01:01 AM

.The class A suburban office building, which was marketed to an owner-user, was built in 1985. Custom features of the building include a two-story lobby atrium, full-height windows and marble-clad walls.Jack Lowell, vice chairman of Codina Realty Services Inc. Oncor International, and Tere Blanca de Ulloa, formerly with Codina Realty Services, represented 5959 Blue Lagoon Partners Ltd. in the transaction. Luis Espino of CRESA Partners represented MM Real Estate LLC.

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